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Macy's same-store sales down 2.7% in June
12 Jul '07
1 min read
Macy's Inc reported total sales of $2.321 billion for the five weeks ended July 7, 2007, a decrease of 1.9 percent compared to total sales of $2.366 billion in the same period last year.
On a same-store basis, Macy's Inc sales were down 2.7 percent in June. This compares with the company's guidance for same-store sales to be flat to down 2 percent in June.
For the year to date, Macy's Inc sales totaled $10.216 billion, down 1.0 percent from total sales of $10.320 billion in the first 22 weeks of 2006. On a same-store basis, Macy's Inc's year-to-date sales also were down 1.0 percent.
Macy's Inc expects same-store sales in July to be flat to down 3 percent. Based on sales levels that are lower than originally expected, the company now expects second quarter earnings per diluted share, excluding merger integration costs, to be in the range of 20 to 30 cents, compared to previous guidance of 35 to 45 cents.
On a same-store basis, Macy's Inc sales were down 2.7 percent in June. This compares with the company's guidance for same-store sales to be flat to down 2 percent in June.
For the year to date, Macy's Inc sales totaled $10.216 billion, down 1.0 percent from total sales of $10.320 billion in the first 22 weeks of 2006. On a same-store basis, Macy's Inc's year-to-date sales also were down 1.0 percent.
Macy's Inc expects same-store sales in July to be flat to down 3 percent. Based on sales levels that are lower than originally expected, the company now expects second quarter earnings per diluted share, excluding merger integration costs, to be in the range of 20 to 30 cents, compared to previous guidance of 35 to 45 cents.
Macy's Inc
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